Week Ahead Report: May 7, 2012Monday, May 7, 10:59 AM ET

The first trading day of the week has investors deciding if the new French President will be good or bad for the European Union's future.

Good morning, this is Tracey Fitzpatrick with the Week Ahead Market Report for May 7, 2012.

In overseas trading, Japan's Nikkei 225 Stock Average was lower by nearly 3%, while the Hang Seng is off by 2.6%. The FTSE 100 was lower by about 1.9%, the German DAX was lower by about 0.3%, but the French markets were higher by 0.6% following the election results.

Some key data due to be released this week includes consumer credit this afternoon, initial claims on Thursday, and PPI on Friday. On the earnings front, expect to hear from Apollo Global Management (NYSE:APO) on Tuesday, AOL (AOL) on Wednesday and Molycorp (MCP) on Thursday.

Join us on Friday for the Weekly Market Wrap and have a wonderful week.

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